It's a sigh of relief from Wall Street as investors appear ready to stop the bloodletting that drove the Dow Jones Industrial Average (^DJI) to its third-biggest one-day loss this year on Tuesday. That selloff was prompted by renewed fears about the health of China's economy.
Yahoo Finance Columnist Rick Newman warns that U.S. markets will likely still be at the mercy of China for some time to come.
"Obviously the big question is have we digested this new expectation of slower growth in China or is there more to come," he says. "My guess is we're more than halfway through the digesting process."
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H&R Block benefits from waranties
Here are some of the stocks the Yahoo Finance team will be watching for you today.
H&R Block (HRB) The tax preparation company's loss in its fiscal first quarter was smaller than expected...and revenue topped forecasts. H&R Block credits its solid results on increased sales of its Peace of Mind warranty program, which protects clients if they get audited.
Navistar International (NAV) The big truck maker registered a loss in its fiscal third quarter as it readjusted pre-existing vehicle warranties and saw sales slide in Brazil because of the economic downturn there. Revenue also came in below forecasts.
Bob Evans Farms (BOBE) The restaurant chain had a big bottom line beat...but came up short on the top line in the period. The company points to efforts it has made to streamline operations for its better-than-expected profit. Bob Evans is also raising its full-year earnings guidance, but says it remains cautious because of concerns about the effect of bird flu on chicken prices and what it calls volatility in the financial markets.
GoPro (GPRO) The maker of wearable cameras is feeling the fallout from a disappointing revenue forecast from supplier Ambarella (AMBA). Ambarella makes video products used in GoPro cameras.
Target (TGT) The discount retailer will be the beneficiary of a big holiday sales boost from Star Wars merchandise. That's the opinion of Piper Jaffray analyst Sean Naughton, who says Target had strong second quarter toy sales and he expects the movie tie-in will drive them higher when Star Wars: The Force Awakens hits the big screen in December.
Uber drivers get a court victory
Uber - It’s a darling of the startup world, but now its business model is under threat. In a blow to the company, a federal judge in California has granted class-action status for a lawsuit brought by Uber drivers, who claim the company treats them like employees without providing the necessary benefits like health care and expense reimbursement.
Netflix (NFLX) is planting its flag in new territory. The streaming video service is launching in Japan today, rolling out a host of local-language programming and other content in a country with 127 million people.
And continuing with streaming, CBS (CBS) is looking to hit paydirt with the NFL. The network will stream seven NFL games, including Super Bowl 50, for free over the internet this season. Yahoo (YHOO), parent of Yahoo Finance, will be streaming the Buffalo Bills-Jacksonville Jaguar game from London next month.
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